This is a limited premium paying term conventional With-Profits Endowment Assurance plan where premium paying term is less than policy term by three years.• Minimum Basic Sum Assured: Rs. 1,00,000/-
• Maximum Basic Sum Assured: No Limit
• Minimum Policy Term: 13 years
• Maximum Policy Term: 25 years
• Premium Paying Term: (Policy Term – 3) Years
• Minimum Entry Age: 18 years (completed)
• Maximum Entry Age: 50 years (nearer birthday)
• Maximum Age at Maturity for Life Assured: 65 years
• Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly
• Accidental Death & Disability Benefit Rider is available on payment of additional premium.
LIC’s Jeevan Lakshya Benefit Details
• On Death: Sum Assured on Death + Bonuses & Final Additional Bonus, if any, shall be payable in following manner.
• Annual Income Benefit equal to 10% of the Basic Sum Assured (till policy anniversary prior to date of maturity)
• Assured Absolute Amount of 110% of Basic Sum Assured, payable (on due date of maturity). Along with Bonuses & Final Additional Bonus, if any, on maturity. (on due date of maturity)
• On Survival : On survival Basic Sum Assured + Vested Bonus + FAB if any.
• Surrendered Value: The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.
• Loan : Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.
• Income Tax Benefit: Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).